Net Asset Value

CAPITAL GEARING TRUST P.L.C. (the "Company")

Net Asset Values

The Company announces that, as at the close of business on 08 January 2015, the
unaudited net asset values per ordinary share, valued on a 'bid price' basis,
were:

Capital only: 3,217p
Including income: 3,232p

Enquiries:
Katherine Manson, TMF Corporate Secretarial Services Limited
Email: [e-mail]

Date: 09 January 2015